Negotiation 201: Industry Sales/Marketing Global Channel Partners Integrating the Life Sciences from Molecule to Organism The American Physiological Society Negotiation 201: Industry Sales/Marketing Katherine Atkinson Director Global Channel Partners Illumina, Inc. Presented on April 4, 2016 At EB 2016 San Diego, CA April 2016

Negotiating for Success! The American Physiological Society This presentation is part of 2016 Mentoring Symposium on Negotiating for Success! Organized by the APS Women in Physiology Committee For more information and to listen to other presentations: the-aps.org/negotiating © 2016 The American Physiological Society (education@the-aps.org) Creative Commons License: Attribution Non-Commercial No Derivatives (http://creativecommons.org/licenses/by-nc-nd/3.0/)

The American Physiological Society Katherine Atkinson Bachelor of Communications katkinson@illumina.com After an initial career in broadcasting, Katherine Atkinson stumbled into life science sales. Quickly learning the “art of the deal” set her apart from the everyday sales representative, her career took off. Her two decades of territory management and sales experience in health care and biotechnology industries includes Fisher Scientific, Thermo Fisher and Beckman Coulter. In 2012, Katherine joined Illumina where she currently serves as Global Sales Director overseeing Illumina’s channel partners. The program provides centralized resources to both internal and external selling teams enabling a world-class partner program that drives a higher level of strategic partner engagement, mutual trust and performance.

Why Negotiate? $108K $100K Seldom ask…wait to raise hand Women have the pleasure of working 8 years longer until they can retire!

Let the Numbers Tell the Story 2.5 times Women report feeling a “great deal of apprehension” about negotiating at a rate of 2.5 times men (Babcock & Laschever, 2003) $500,000 Failing to negotiate salaries costs women $500,000 by the age of 60 (Babcock, 2009) $700,000, $1.2M, and $2M Amount high school, college and professional school graduates can expect to lose by not being paid what they are worth (Wage Project, Inc.) 30% Less Women ask for 30% less, on average, than men in a negotiation (Babcock & Laschever, 2003)

Barriers Preventing a Negotiation for New Sales Hires Didn’t know I could System will take care of me Work hard and deliver, and then positive outcomes will follow Don’t want to harm a relationship Active negotiation will NOT be held against you! I’m not ready or feel I lack experience Psychological barriers sometimes lead women to not negotiate for more or take the risk

Don’t Wait for the Negotiation to Sell Yourself Interview Prep Success Factors Persistence Preparation Sell yourself Sales Philosophy Drive for Results Customer Focus Interpersonal Savvy Strategic and Tactical Agility Technical Knowledge We look at initiative…benefit of the doubt to those who persist… Read about the company…do your homework See yourself…this is what will differentiate you Know something about sales…be prepared to discuss approaches…do not want to hear I am a people person!

Negotiating Your Salary LISTEN! - Understand offer - Do not accept immediately Know who you are dealing with - Hiring Manager or Recruiter Ask when you have to make a decision by and take that time Before you counter offer…know your worth Glassdoor

The Counter Proposal Always counter (many options) - Salary - Car allowance - Stock options - Signing bonus Be prepared to highlight the reasons you deserve these concessions - Why you are worth it! Hint: Most companies always leave room for counter! Don’t leave money on the table!

Price is only important in the absence of value. Be prepared, know why you are worth in and deserve more.

Finding a Sales Role Expand your network (or increase your connections if that is more palatable) Don’t fear negotiations-- if you don’t negotiate, a peer is (and getting a better outcome than you!) Identify a network that you can lean into for coaching, to do a test run of a conversation (and it may include both men and women!)

For more information, to listen to other presentations, The American Physiological Society For more information, to listen to other presentations, and for the PowerPoints with active links and/or other resources the-aps.org/negotiating For further information, contact APS Education Office education@the-aps.org